As has been happening all over the telematics landscape as of late, two of the industry’s heavy hitters have teamed up to make a super entity. Navman Wireless and Teletrac, two well respected names in the fields of vehicle tracking and asset management, have announced that they will be merging together to create one of the world’s biggest telematics companies.
Announced late yesterday, the move will take some months to complete and will see a new board of executives hand-picked from current higher ups at both organisations. The new board will managed by current Navman Wireless president and CEO, TJ Chung, who said he was incredibly excited by the new venture. Both companies will continue to operate independently he said, with their original names and staff, but would help each other to provide better products moving forward.
“It became clear in our race to being the predominant global GPS fleet and asset tracking solution, that the leverage of combining Navman Wireless and Teletrac was in the clear best interest of both companies’ current and future customers,” said Chung of the move.
“We realised that both companies were highly synergistic and we had the opportunity to leap forward by partnering strength on strength.”
Another reason for the partnership is to give both companies a more global presence. As it stands, while each has their own international offices, they don’t quite have the combined spread of the two firms working together. As a merged pair, they have offices located in the UK, Australia, New Zealand, Mexico and USA, giving the new twin corporation an impressive global presence, most notably in English speaking countries.
Between the two, they now also track over half a million vehicles, making Teletrac and Navman Wireless easily one of the biggest in terms of customer base. Recently TomTom Telematics announced that it had reached the 400,000 vehicle mark, which was an impressive milestone. However not long after, Mix Telematics made a similar announcement, but tipped the scales at 500,000 vehicles, so even though now far larger than either part was before, the new sum of Navman Wireless and Teletrac still isn’t quite the world’s most dominant telematics company.
That may come with time though, as being able to combine resources may mean that the new joint firm is able to invest more in developing products for consumers, which in the long run could mean better services – and likely cheaper ones too.
“We expect that both Navman Wireless and Teletrac customers will be able to leverage a greatly enhanced feature set in the coming years as a result of this combination and our future customers will see the added benefit of leveraging innovations from two leading companies,” said Mike Jarvinen, VP of marketing for the newly formed firm.
Image source: Flazingo Photos